Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


  • Content Count

  • Joined

  • Last visited

  1. Ok, they started the garnishment before the consolidation was done. I now have no idea what's going on. Since I make about $230 per biweekly paycheck off my part-time job, they can't take too much. Also, I did apply for a 3-month fulltime paid internship so I will have to quit this current job in 1.5 months if I get the internship. I don't know what happens then. Can I still send them those Financial Statement What-Can-I-Afford forms about my poor financial status, where I send the 2 most recent paychecks? what will happen when I quit this job to work full-time for 3 months, then go back to part-time at another job next year? Does this garnishment just follow automatically? I'm so bad at figuring this all out by myself that I feel like it's just easier to let them take the 15% from whatever job I have, because I won't miss what I don't see anyway.
  2. Thanks for the replies. I applied for consolidation & for the income-based repayment. They calculate my repayment as $0.00. I don't know what to do with the wage garnishment stuff, should I even reply to it since I applied to consolidate? I can send in my paychecks to show them I make $400/month and can afford to pay $20/month... but will that cancel out the consolidation?
  3. They're Direct Loans. But the thing is, I deferred them, and I got a letter saying they're deferred until June 2010. Then I got another letter for the same loan saying it's due! That was 3 months ago. But no, they haven't garnished yet. It was actually a letter threatening to garnish. I think I have a few weeks? I'll apply to consolidate, my family says it's a great idea. I didn't even know I could do that...
  4. I've read everything on this SL forum and have learned a lot, too late. I lost my high-tech job during the dot-com bust, and have had to go back to school, on and off, to start all over (from technology to science). Right now I have 2 federal SLs in default (just learned that term on here) but I have been in school so they have deferred. This year, after a couple of years, I finally got into a nursing school, and am in school full-time. I'd forgotten about my old loans. Then I started getting the calls. But even though I submitted deferment apps I kept getting calls; and today I got a letter from Dept. of Ed. that they would garnish 15% of my pay. Well, my "pay" is basically 15 hours a week of minimum wage work ($8/hr.), so 15% isn't a whole lot... I'm tempted to just let them do it. I finish school in 2011 with a BSN. My debt is basically $43K, so if I live really cheaply for some years I can handle that. I have no other debt, since I have no credit cards (probably the only smart thing I've ever done is not get a credit card in my youth). I've paid cash for everything. The only thing messing up my credit are these SLs. But until then... So what do I do? Let them take that 15% right now and then later on pay whatever's left back? I mean, I'm a full-time student, & I pay out-of-pocket outside of scholarships... Thanks for your help. It's unbelievable how little everyone knows about this... even in the financial aid dept. @ school, they kinda brush you off.

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
  • Create New...

Important Information